If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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  • Car Loan Reviews

    • HDFC Bank Car Loan
      "Not bad"
      0.5 4.5/5 "Excellent!"
      I have approached HDFC bank for my car loan. The rate of interest was not bad comparing to others banks but there is no response from the bank end so I have cancelled the application . The customer service was average . My overall experience was not bad and I would like to rate 4.5 out of 5 overall.
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      , bangalore
      Reviewed on Sep 25, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken my car loan with HDFC bank. I am satisfied with their customer service and responses.Their rate of interest was also low comparing to other banks. They provided door step service for the documentation service.My overall experience was excellent
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Sep 25, 2017
    • HDFC Bank Car Loan
      "Not good not bad"
      0.5 3.0/5 "Satisfactory"
      I have approached HDFC bank for my car loan. Their rate of interest was average but they did not respond for my loan application so I have cancelled it. The customer service and responses was up to the mark so I would like to rate them 3 out of 3 overall.
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      , ghaziabad
      Reviewed on Sep 25, 2017
    • HDFC Bank Car Loan
      "Wrong judgement of applicant and no follow up."
      0.5 1.0/5 "Really Bad"
      I have requested for a car loan with HDFC Bank. The executive came to my place and collected the documents. At that time itself he verified all my document and later told me that my address proof is not clear. So i asked the executive to come and collect the document but he did not turn up. Later i got a message due to the documents my application got rejected.
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      , bangalore
      Reviewed on Sep 25, 2017
    • HDFC Bank Car Loan
      "Average"
      0.5 4.0/5 "Great!"
      I have approached HDFC bank for my car loan . They have delayed the process and there is no response at all from the bank end so I have cancelled my car loan application. They have to improve their customer service and responsiveness. The rate of interest was 9% for 7 lacks which was bit high comparing to other banks.
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      , hyderabad
      Reviewed on Sep 25, 2017
    • HDFC Bank Car Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      I have also taken a car loan with HDFC Bank and the banking services are good. The process was made simple and easy and as always the customer support was quick in the document collection process. The after loan services are also good and hassles free.
      Was this review helpful? 0
      , kota
      Reviewed on Sep 24, 2017
    • HDFC Bank Car Loan
      "Good"
      0.5 1.0/5 "Really Bad"
      I have approached HDFC bank for my car loan .They have rejected my application for some reason but when i contacted them to know the reason I did not get a clarity on that. However their rate of interest was 10.57% which is bit less than other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 24, 2017
    • HDFC Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The process for the car loan was also a smooth process and I had no difficulties in the documentation. HDFC Bank has always been providing the best of services and the deal on the interest rate and processing charges is affordable and the after loan process is smooth too.
      Was this review helpful? 0
      , patiala
      Reviewed on Sep 24, 2017
    • HDFC Bank Car Loan
      "Process needs improvement"
      0.5 3.0/5 "Satisfactory"
      It took 25 days for the executive to contact me from HDFC Bank. I had to follow up on this for the car loan. The bank needs to work on their response and the process. The interest rate and processing charges is normal. But the process was not up to the mark.
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      , secunderabad
      Reviewed on Sep 24, 2017
    • HDFC Bank Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      HDFC service was very good with very helpful representatives during the process. Also I use to get regular followups from their executives,documentation part was also fine. Interest rate they offered me was 8.74 for 7 years which was very comfortable for me,overall service was good from HDFC.
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      , noida
      Reviewed on Sep 24, 2017
    • HDFC Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      HDFC bank did contact me, after I had applied for a car loan. I could not proceed ahead because I bought a second hand car and later after Diwali iam planning to buy a new car Not sure on the interest rate as I did not go to that level of discussing details with them if i had to take loan amount it would have been 5 to 6 lakhs.
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      , new delhi
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I haven't got the car loan with HDFC bank ,because of my financial issues, so that was the reason I haven't proceeded with the Hdfc bank car loan application. The rate of interest was nominal with HDFC bank. I would say it was a good service from HDFC bank.
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      , noida
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I maintain a good relationship with the HDFC bank. They are very cordial and customer centrist. Whenever I approach them for a query, they are supportive as well. I had taken a car loan and it was a smooth process with a fantastic rate of interest It was sonata car and ther ROI was 13% and tenured was for 3 years.
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      , new delhi
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I postponded the pan of my plan in buying the car so I decline my car loan from HDFC Bank. The services was very quick. They were pretty responsive too. I had no issues with the rate of interest and processing charge it was just the loan s be approved from other resources so i had not taken the loan.
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      , ambala
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I postponed my plan for the car loan, and could not proceed ahead with HDFC Bank for it. But the executive was on time to contact me and inform me the details and they also had a nice interest rate and the processing fees was also normal when compared to the other banks but I had to pospont the plan because of financial issues.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "Very good car loan process"
      0.5 5.0/5 "Blown Away!"
      I have approached HDFC Bank for the car loan, the most interesting part being interest rate is very low and processing fee is also minimum.I have hanged my plan that is why i had not taken the car loan from HDFC Bank
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "Documentation process needs improvement"
      0.5 2.5/5 "Just OK"
      Being a privileged customer I got a good deal on the interest rate and processing charges with HDFC Bank for the car loan. But the bank needs to work on the paper work process. They have collected the same documents multiple times which was not satisfactory.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "Very good car loan process"
      0.5 5.0/5 "Blown Away!"
      It so happened, where friend of mine was working with the same bank ( HDFC ) therefore i had approached him for the same. Some how I got in touch with him and he took care of everything. I was quoted an interest rate of 8.5% and the processing fee is NIL. Prepayment is allowed after 2 years no charges
      Was this review helpful? 0
      , thane
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "Good process"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank process was a speedy process and the documentation process was also good. I have just applied online and they took my signature , they verified with my employer the whole process was very easy and comfortable. Prepayment charges were okay MARUTI SUZUKI WAGON R VXI. Rate of interest offered by them is little higher than others, I am planning to change the car model though.
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      , ahmedabad
      Reviewed on Sep 23, 2017
    • HDFC Bank Car Loan
      "Experience is good"
      0.5 5.0/5 "Blown Away!"
      The formalities for my car loan was completed on time and I also got the loan on time as well. HDFC Bank has done a good job and the experience is perfect. I have taken a MARUTI SUZUKI SWIFT. The interest rate was around 9% and the processing charge was normal.
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      , indore
      Reviewed on Sep 23, 2017
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    HDFC Car Loan Eligibility Calculator is Rated as "Excellent!" by 6575 Users

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    Car Loan BYTES FROM OUR KITCHEN

    HDFC Car Loan Eligibility Calculator

    An Overview about HDFC Car Loan

    HDFC has attractive car loan offers for new and used cars. It has appealing interest rates, easy repayment tenures and large loan amounts. Customers can avail of three different car loans to suit their needs. You can avail of a loan for:

    • New Car
    • Pre-Owned Car
    • Loan Against Car

    HDFC offers car loans that finance 100% of your cost to purchase the car. Repay the loan over 7 years. You can check if you are eligible for a car loan in a minute and be approved of one in half an hour. Enjoy fixed interest rates and stability of your EMI every month. HDFC aims at making the process fast and hassle-free for their customers. With low down payments, competitive pricing, transparency and deals offered to customers, this car loan stands out as one of the best offers. HDFC ensures that there are no hidden charges in the loan process which makes customers happy with the clarity of the loan amount and applicable fees.

    HDFC also has tie ups with a number of authorised pre-owned car dealers to provide loans to customers seeking used cars. Get fast approvals and doorstep service with this loan. The car should not be older than 7 years for private use, and 6 years for commercial use.
    And even if you don’t have income documents to present, the bank has a car loan that makes it even more easier for you. The HDFC Loan Against Car Loan gives you an interest rate lower than 2% on a personal loan. You can get a maximum loan amount based on the value of the car.

    HDFC Car Loan Eligibility

    The HDFC car loan is offered to salaried individuals as well as self-employed businessmen. Your eligibility for a car loan is based on a number of factors such as your age, income and whether the bank can be sure you are capable of repaying the loan. You are also required to submit documentation that can support your identity, age, address and income claims.

    Apply for Car Loan Online

    New cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,80,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    2 years in business

    Rs. 60,000 for standard cars.

     

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Partnership Firms

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Private Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Public Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

     

    Pre-owned cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    25 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Public Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

    Loan against car

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    65 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

     

    HDFC Car Loan Documentation required

    In order to complete the eligibility process, you need to submit documentation to prove your identity, age, address and income. The following are the documents you will need.

    • ID proof -
      • For salaried individuals and businessmen: Any official document that can be used to identify yourself such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card.
      • For Partnerships: Partnership deed
      • Private Limited Companies: Memorandum and Articles of Association / Certificate of incorporation
    • Age proof - Any official document that can be used to verify your age will suffice such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card, employer certificate or ID, School or College leaving certificate.
    • Address proof - You are required to prove your place of residence through a ration card, driver’s licence, Passport, telephone bill, electricity bill, credit card statement with a copy of your credit card, or an employer’s certificate.
    • Signature proof - The bank also needs to verify your signature as it appears on your passport, driver’s license, credit card statement, banker’s verification, copy of margin money paid to the bank.
    • Income proof
      • For salaried employees, you need to present your latest salary slip with the latest Form 16/ Latest Income tax returns. You can submit the HDFC bank corporate salary account statement for the last 3 months for salaries above Rs. 8,000.
      • For businessmen, you need the latest/previous year’s Income tax returns with the advance tax paid challan or the latest IT assessment order.
      • For Partnership,Private and Public Limited Companies, you need the latest ITR and balance sheet along with Profit and Loss account.
    • In case you are transferring your loan, you need to submit the foreclosure statement from the previous bank.
    • The repayment schedule for 9 months for personal vehicle, and for 12 months for commercial vehicles.

    Factors Affecting HDFC Car Loan Eligibility

    Your HDFC Car Loan Eligibility can be affected by a number of factors. A few have been listed below.

    CIBIL score - CIBIL score is your credit score assigned by the Credit Information Bureau Limited. A high credit score could make your loan process easy and smooth. A low credit score could prove difficult to secure a loan.

    Age - You can get a loan only when you reach the age of 21 years. The maximum age poses a greater obstacle. You must finish the repayment period by the age of 65 years. This is where age can affect your eligibility.
    Income - The loan amount you are seeking to purchase your car may not always be the same as what you are eligible for. Your loan amount depends greatly on how much income you can show. If you end up being short on the eligible income scale, you can add on your immediate family member’s income to compensate the difference.

    Debt - Any debt you already have might affect your eligibility. Your debt-to-income ratio is a very important factor while taking out a major loan. If you already have another loan, or credit card debt, this could significantly reduce your eligible loan amount or total eligibility.

    How CIBIL Score affects HDFC Car Loan Eligibility

    Your CIBIL score is determined by the Credit Information Bureau (India) Limited which has come to play a very crucial role in India’s Financial System. CIBIL collects and stores all information related to your credit history like credit cards, loans, payments, defaults, spending patterns, and so on. A number of things could negatively affect your score like defaulting on your EMIs or minimum due payments. A lower score reduces the amount of loan you are eligible for. In extremely bad situations, you might not be eligible for a loan at all. You will need to build your score back through a long process. So it is important when you take credit from banks and financial institutions to pay your dues on time and play by the rules to ensure a good credit score for when you need it again.

    How to Increase your HDFC Car Loan Eligibility

    If you find yourself not eligible for the loan amount you are looking for, there are ways to change that.

    Pay off other debts - You will need to repay other loans and credit cards in order to increase the amount of loan you might get. Never take a personal loan right when you plan to take a big car loan or home loan in the near future. This could affect your debt-to-income ratio, and this will significantly reduce your loan amount.

    Co-applicants - You can include the income of your spouse, father, mother, son, daughter, brother and sister to increase your eligibility. They will be brought on as co-applicants of the loan even if the car is not in their name.

    Increase your credit score - Find ways to bring your credit score up. You could spend more on your credit card and pay it back ahead of time. CIBIL scores are tricky because even closing a credit card can put a ding in your score simply because your available credit limit is significantly reduced. So do your research and find ways to improve your score.

    HDFC Bank Car Loan Eligibility Calculators

    HDFC Bank offers a quick and easy eligibility calculator on its website. Simply enter your details to find out if you are eligible for a loan. You can also view the exact total cost and EMI of your car loan. You can then decide whether the loan is suitable for you and apply online. Get special discounted rates of interest when you apply for a loan online.

    You can also check your eligibility on BankBazaar.com. Enter your details and view the results of the loans you are eligible for. You can read further about the HDFC Car Loan offered and apply online directly through BankBazaar.com.

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